NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Financial Crisis and the Paradox of Under- and Over-Regulation

Joshua Aizenman

NBER Working Paper No. 15018
Issued in May 2009

---- Acknowledgements -----

I would like to thank Maury Obstfeld, Dan Friedman, Ken Kletzer, Donald Wittman and the seminar participants at UCSC for insightful comments; and Yi Sun for dedicated research assistance. All errors are mine. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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